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in singapore hospital. dozens take to the streets to protest the iraqi government. >> in vietnam, we talk to fishermen about the increasing dangers of working in disputed waters. >> u.s. president barack obama says he still hopes congress can reach agreement to avoid the so- called fiscal cliff. obama met congressional leaders at the white house on friday to discuss a deal. he said the talks were constructive, but did issue a warning on behalf of the american people, demanding congress take action. >> america wonders why it is that in this town, for some reason, you cannot get stuff done in an organized time table, where everything has to wait till the last minute. we are now of the last minute. in the american people are not going to have any patients for a politically self-inflicted wound to our economy. >> the president said he was modestly optimistic that the january 1 deadline for the fiscal cliff could be averted, but that is contingent on a vote in the senate on a compromise bill, and that will have to get an up or down vote. there is a majority for that, with some tax increases fo
as advancing rebels prepare for talks with the government. 4 die when a russian airplane crashes onto the highway in moscow. >>> for 13 days, doctors had fought to keep her alive but her injuries were too severe. now the six men accused of gang raping the 23-year-old woman in india are being charged with murder. she was thrown from a moving bus after being assaulted. thousands of people have called for more to be done to protect indian women against sexual violence. from new delhi, we have this report. >> they came and the hundreds to mourn the young woman brutalized and to show their anger to lawrence the authorities who have not year -- show their anger towards the authorities. the chief minister had already described it as a shameful moment for india, but that did not spare them the rest of the crowd. >> we need to do something because we have too much on the establishment and they have let us down. >> the government has been trying to put off protesters by sealing off large parts of the city and closing off metro stations. hundreds of armed police and riot troops are on duty. but
of suspense, mario monti said he will not run for reelection. but he could lead of future italian government. and the head of the u.s. gold lobby goes on -- the u.s. gun lobby goes on television to defend his position that guns should be in every school. and trouble in south africa. hello there. welcome to the program. all they were trying to do was buy bread. it turned into a tragedy in central syria. dozens of people are reported to have died when the bakery they were queuing at was destroyed. the un envoy arrived in syria for more talks. we have this. >> panic, chaos, anger. this is the aftermath of what the opposition says was an air strike carried out by a syrian fighter jet. those killed and wounded were queueing outside a bakery. only five days ago, this area was under the control of government forces. the rebels recently opened a new battle for this section of central syria. the state still has superior firepower to the strike back. the government says it is willing to engage in dialogue, but the other side is not. >> i have general advice. time is getting short. hurry and move towar
after silvio berlusconi's party with her support for the government. >> we have a friendship feeling, but in the framework that is quite puzzling. this cannot constitute the basis, aside for other reasons, this cannot be the basis for affecting a proposal for me to become the leader of the moderates, he has said. that is the outgoing prime minister. what is next for him? >> is still speaking right now. he has announced he is going to launch some sort of change where he will lay out what whoever will the prime minister next year will have to follow to make sure what has been done by his government in the last year is not undone. he has stabilized the economy. now it needs to grow from alan. to grow, you need to pass even more unpopular reforms. he has said whoever wins, the party should not destroy what was billed. it was a pledge to the next government. do not and do what was done by us. do not criticize europe or try to get out of europe. play an active role in it. all of the points he was making almost directed at soviet gross tony who has said he will run for prime minister and ha
to grow their own food. syria's president bashar al- assad says his government will do whatever it can to end the crisis in syria. his comments on state tv followed a meeting of the u.n. peace envoy to syria lakdar brahimi. he also says he is cooperating with lakdar brahimi, who is on a two-day visit. it coincides with a missile strike. scores of civilians killed in the attack. in the northern city of aleppo rebel fighters say they captured a military base. russia's foreign minister says he received guarantees from president assad he will not use chemical weapons against rebels. >> i met president assad and we exchanged views on the next steps that can be taken to move forward. the president spoke of his viewpoint and i told of what i gathered from my many meetings i of that indifference cities and with various officials in the region and outside the region. we also discussed the steps i see it can be taken to help the syrian people come out of the crisis. the situation in syria remains of high concern and with the party's move of the direction of a solution that the people of this --
cpi would change the way the federal government calculate inflation. which could possibly save the government $300 billion over the next decade if implemented. normally every year, wages and prices go up. the consumer price index, the cpi measures how much they go up by tracking a basket of goods that americans typically buy. it's important, it's used to calculate cost of living adjustments on social security. checks pay a little more each year in line with inflation, as calculated by the cpi. now one potential flaw in the system, cpi assumes people don't change their basket of the price of meat goes up. they don't switch from meat to chicken because the price of beef has gone up. they don't switch from say, arugula to iceberg lettuce, it doesn't account for how behavior changes. chained cpi presents a chained basket of goods, measuring how people react to price changes, not simply the fact that prices have changed. now chained cpi would account for fact that you're buying more chicken when beef is too expensive. that could result in a slower rate of inflation, it saves the gov
the federal government calculates inflation, which could stave federal government $300 billion over the next decade if implemented. the consumer price index measures how much they go up by tracking a basket of goods that americans typically buy. this is important because it's used to calculate cost of living adjustments and social security. checks pay a little more each year in line with inflation as calculated by that consumer price index. now, one potential flaw in the system, consumer price index assumes people don't change their basket, if, say, the price of meat goes up. in other words, they don't switch from meat to chicken because the price of beef has gone up. they don't switch from, say, arugula to, i don't know, iceberg lettuce. it doesn't account for how behavior changes. chain consumer price index creates a chain basket of goods to measure inflation more accurately. it's measuring how people react to price changes not simply the fact that heiss pryces have changed. chained cpi could result in a slower rate of inflation over time, saves the government money on those cost of lifg a
others around the world are celebrating the holiday. anti-government rebels in syria said there in control of the border town with turkey. around 700 people have crossed the border to find refuge in turkey. more than half of a million people have fled from syria, and the syrian president bashar al- assad has said he would do whatever he can to end the violence to on boy -- envoy lakhdar brahimi. zeina khodr, what about this story that they have taken the border town? >> it is a small town, but there has been a long, difficult fight over three months. they have had between 100 and two hundred soldiers held up. was a difficult fight for the rebels. strategic, it is not in the sense that it will allow them to make further advances, but the rebels are trying to clear the border region from government forces. when now, they control most of the border region aside from a main border crossing. >> what about the context with lakhdar brahimi's visit to damascus? >> well, as we know, very little progress on the political front, which means more fighting is expected, but what we hav
talk about entitlement spending cuts. are the democrats willing to accept that the government will spend less money? if this is the case, then they might find common ground. one important issue, of course, is going to be the members of the tea party. they are saying compromise is a bad word. of course, it will be difficult for them to find a compromise, to bring them into the boat. >> we had the meeting today. we have the special session on sunday. do you expect a compromise, or are we going over the cliff? >> this is really difficult to predict, but i will look today when they come out of the meeting weather they are willing to say, "well, we are looking forward to the next meeting." will they continue to talk? will they make jokes maybe? i think this might be an optimistic sign. if they come out and just say, "well, we are looking for a solution and the other side just do not want to compromise," then the blame game will start, and we probably will go over the fiscal cliff. >> thanks so much. >> the deadlock in washington has been weighing on investor sentiment today. in eur
violations. some senior government officials in moscow have spoken out against that law, but supporters argue the ban's necessary, because some adopted children have faced abuse by american families. joining me from moscow now is steve rosenberg. steve, you said he'd do it, he's done it. >> that's right, david. there's been one question that has dominated political life in moscow the last few days and that is will he or won't he? will president putin sign what is one of the most controversial laws he's been face with. yesterday he indicated he probably would and today he signed it. as you mentioned it has been very controversial because a number of ministers in his own government, including the russian foreign minister have publicly criticized the law and president putin's critics have accused him of playing politics with russian children. >> criticized it on humanitarian grounds. >> yes, absolutely. it's interesting to note that the bill we're talking about, the law we're talking about is wider than simply banning adoptions. it's russia's retaliation for the act that bans russians officials
to competition. and they build school cars and space ships. >> entrepreneurs do what only governments did before. >> maybe cities will be built on water flow from big government. >> this is outside the united states jurisdiction. >> life gets better because ideas have sex. >> wait, ideas hav sex? >> yes. >> ideas spread. when they meet they can mate. >> because of that we live in a wonderful world. that is our show tonight. >> now, john stossel. ♪ i think to myself ♪ what wonderful world >> what a wonderful world? what are they talking about? all we hear from the media is doom, unemployment, pollution, social conflict, all the things exist but couldn't once in a while someone put it in perspective? this man did that. i usually don't like to put on swedish public health professionals or danish public health prossionals they put you to sleep but this gentleman has caught the world's attention because he gave a tech talk, technologyntertainment design, many are boring but his talk has been viewed 100,000 times. here is part of it. >> i was only four years old when i saw my motherlode the washin
school cars and space ships. >> entrepreneurs do what only governments did before. >> maybe cities will be built on water flow from big government. >> this is outside the united states jurisdiction. >> life gets better because ideas have sex. >> wait, ideas have sex? >> yes. >> ideas spread. when they meet they can mate. >> because of that we live in a wonderful world. that is our show tonight >> now, john stossel. ♪ i think to myself ♪ what wonderful world >> what a wonderful world? what are they talking about? all we hear from the media is doom, unemployment, pollution, social conflict, all the things exist but couldn't once in a while someone put it in perspective? this man did that. i usually don't like to put on swedish public health professionals or danish public health professionals they put you to sleep but this gentleman has caught the world's attention because he gave a tech talk, technology entertainment design, many are boring but his talk has been viewed 100,000 times. here is part of it. >> i was only four years old when i saw my motherlode the washing machine r t
. they planned to set up an administration with government and anti-government forces. he plans to pull power from the assad administration to a new government. but the opposition wants to overthrow the assad administration and the government regards the opposition as terrorist. >>> two insider attacks in afghanistan have rattled the international security forces. an afghan policewoman shot and killed a u.s. contractor in the capital kabul. the victim was a security consultant for the police. other officers detained the woman at the scene. her motive is unknown. another afghan police officer opened fire at a checkpoint in the northern province of jasjon. he killed five colleagues and fled the site. police believe he was a member of the taliban. afghan soldiers and police officers have killed more than 50 members of the international forces this year. the taliban has not claimed responsibility for the kabul shooting, but the group claims to have placed members in the military and police force to launch insider attacks. >>> japan's air self-defense force scrambled fighter jets after a chinese a
of sunnis staged mass protests against the shi-ite-led government. there were rallies in fallujah and ramadi, where protests already had erupted earlier this week. today, mosul, tikrit and samarra had demonstrations as well. protesters took to the streets waving flags and signs. they chanted slogans demanding fair treatment from the baghdad regime, and the release of sunni prisoners. shi-ite prime minister nouri al-maliki said the demonstrations were not acceptable. the government of china imposed tighter controls on internet usage today. now, china's 500 million web users will have to provide their real names when they register for internet service. and providers must delete any web content deemed illegal, and report it to authorities. leading writers and bloggers insisted it's a new way for china's communist leaders to censor their critics. >> ( translated ): since the internet came into china, the chinese government has been repeatedly imposing restrictive measures, such as shielding, blocking and banning. it has even spent billions of dollars to build a firewall against overseas sites.
with cities built onment water free from the tentacles of u.s. government outside u.s. jurisdiction. it is have the fax? yes ideas spread and because of that we live in a wonderful world. that is our show. tonight. what a wonderful world? all i hear is unemployment, ll pollution, soc ial conflict it is a goode that somebody puts it into perspective.is m a swedish public health professor and usually don't like to put them on theyu would put you to sleep but he has caught the roads attention because he gave a talk to technology entertainment decide more than 100,000 times here is part of it. >> when i saw my mother and though the washing machine for the first time in her life. >> even grandma was invited to see the machine. she had hand washed laundry for seven children and she sat down in front of the ch she watched the entire program and was mesmerized to my grandmother>> b the washing machine was a are >> there 7 billion people and most have no access to the miracle. hav >> 2 billion have access but the remainnng 5 billion how do they wash? like this. by hand. it is a hard time con
>> anti-government protests continued in iraq as sectarian divisions continue to deepen. hello, and welcome to al jazeera live from doha. these are our top stories. a desperate syrian father tells us why he tried to kill his own child during his escape to lebanon. 's plans be aware, china posse to force them to reveal their names. the deaf -- the members accused of the death of an gresham lawyer has been acquitted. -- russian lawyer has been acquitted. >> thousand people are in the streets in iraq to protest against the government. now, these are live pictures. the minority sunni moslem community accusing the she opera minister nora al-maliki of discrimination and refusing to share power. this is the live pictures out of northern iraq. our correspondent joins me now from the town of ramadi. the protests are very large and are continuing. they seem to have blocked a key highway. how do you assess the size of the crowds in relation to what they are demonstrating about? >> i think the rumble of the crowd is very big because the picture you are seeing is one angle. the other side o
. back in 2003, i got medicaid payments by the government to help the state's struggling with their medicaid costs. $20 billion will able to spread across the states to help them because they were unable to meet the rising costs. in 2017, they're going to have a larger share of the costs. we need that is taken care of. they did not know what the cost was. they put a number in as a place holder and it looked like i was doing something for my state when i wasn't. i was trying to get it for all the states. that is what happened. i wanted to get it knocked out -- if people wanted an opt out. the supreme court gave that. this got used against me as though i was trying to do something i should not have. i was not. the interesting thing is i was asked to do this by the nebraska governor. i did not get a thank you from another governor, who was from another state. >> during that time, you experienced the radio talk-show host circuit and the cable tv circuit. what was that time like and what do you think the echo chamber in american politics today does? >> it is a difficult thing
started with teargas. they are still around in different areas around government compounds, demanding justice. >> we are not safe. even if we go on the matter we are not say. >> a 23 year-old medical student was attacked and a great on a bus last week. she is in a hospital. they have arrested all six men accused of raping her. as the protests continue, if the government has been under pressure to do more. they breached the prime minister on saturday. five fast track courts have been announced to address the tens of thousands tensrape cases that are still 0 -- tens of thousands of rape cases that are still standing. >> they are protesting the policies. it will not change. some are advocating for capital punishment. >> much of the inner happen toward the police to have been accused of being ineffective. they are ready to continue until concrete action is taken to ensure the safety of women. al jazeera, a new delhi. >> in southern india, a decision to release to italian marines accused of murdering two fishermen so that could allow for christmas has sparked outrage. they were part of a m
a social security, medicare, medicaid. that is not the only entitlements. every government program that has a retirement benefit, a health-care benefit, those are entitlements, two, up to and including the entitlements for the congressman. let's be fair. when they start talking about entitlements and hold it to those three items, let's hold their feet to the fire and make them talk about entitlements for the other folks, too. host: appreciate you calling this morning. donna writes about this on twitter. if that to facebook here. -- back to you facebook here. budget showdown hits the keep week. that is of the front page reminding us of the deadline looming. it is a bloomberg story here out of the district. i you can watch the byplay here on the c-span that works with the president heading back to town tonight. the senate and house are due back tomorrow. billy from jacksonville, florida, to life for waiting. caller: i am very optimistic but i worry that the president will not get a chance because lindsey gramm already stated he will fight. i think there will already be another big fight for t
of the pilot. but planes are very different and there are fcc rules and it's just the government being the government. >> gavin: you expect the government to no longer be the government in 2013? what's the trendline? >> there has been a lot of push back. i have not stopped writing about this. i've been relentless. last week the fcc urged the faa to change this. this is hurting consumers as far as productivity. this week the senator from missouri said if the faa does not tart start to look into this in a quicker fashion they'll start legislation. >> gavin: i could not support that more being on the plane as much as i am. twitter,. >> 2014, i'm writing a book, it will be out next year about twitter. but the prediction is they'll file for s-1 by the end of the year and go public in 2014. but there is speculation that they will probably bring in $1 billion in revenue next year. which will be quite astounding. >> gavin: pinterest. >> who? i just don't like it. >> gavin: why not. >> it feels girly. is that a bad word. >> gavin: considering that half the population fits that description, you'
the dollar against the yen after liberal democratic party leader shinzo abe said his new government may reach an agreement with japan's central bank on an inflation target. there is speculation the central bank may come under further pressure for monetary easing measures. the dollar/yen is currently trading at 84.82 to 85. >> catherine, the incoming leader abe has even mentioned revising the bank of japan law which adds more pressure onto the central bank of japan. now, a bit of background, the boj decided last week to extend its asset purchase program by 10 trillion yen, but many investors think the bank needs to do more, still. let's go to ramin mellegard who is at the tokyo stock exchange to get a check on how all of this is affecting tokyo markets. ramin, good morning. >> good morning to you. markets really keeping a close eye on the weaker yen here, and if it's going to weaken further, in fact, and really that's been leading to the gains in stocks that we've been seeing. i also need to keep an eye on the developments of the u.s. fiscal cliff and whether that's going to be resolved or not
and a bill to continue the controversial domestic surveillance program. then, will the government -- of nerve north carolina pardon the wilmington 10? >> it is not a secret an injustice has been done. now, governor perdue has an opportunity to right the wrong. we cannot go back to 1980. this is 2012. >> the north carolina governor is being urged to pardon a group of civil rights activists were falsely convicted and imprisoned 40 years ago for the firebombing of a white owned grocery store. the conviction was overturned in 1980, but the state has never pardon them. we will speak with one of the wilmington 10 who served eight years behind bars and it became head of the naacp. all of that and more coming up. this is "democracy now!," democracynow.org, the war and peace report. i'm amy goodman. president obama is set to meet with congressional leaders at the white house just three days before a year in deadline to avoid the so-called fiscal cliff. some $600 billion in automatic spending cuts and tax increases will take effect if no agreement is reached. obama and the rest of republicans remain of
the longstanding recommendation of the government accountability office that the department perform a strategic review that they carry at the necessary security measures that the diplomats abroad and ensure that all necessary actions are present to prevent a recurrence. i know there will be an attempt to shift the responsibility for the tragedy to a shortage of resources. requests for more money are a familiar refrain in the state department reports. but budgetary constraints or not a factor in the department's failure to recognize the threats and adequately respond to this situation in benghazi that is and about misplaced priorities. if this department intends to blame its long string of failures on an adequate funding, then perhaps it should take a closer look at the money that is being lavished on the global climate change, colin marie diplomacy programs another fever project. this money could have been used for providing diplomatic security including hiring additional personnel and providing them with adequate equipment and training. this report and this hearing are just the beginning of ou
on a bus in delhi, leading to days of street protests. the government using water cannons to try to keep the situation calm on the streets. there was a distinct sense that people in the know were telling us what had to happen to avoid this kind of thing happening again was not only an examination of having the police do their jobs, but reform of how the authorities to deal with this kind of the incident in delhi. the top line on the story, the victim of gang rape in delhi who is being treated at a hospital in singapore has now passed away. >>> a final meeting between president obama and congressional leaders to hammer out a last-minute deal towards the so called -- to avoid the so-called fiscal cliff has finished. john boehner was at the white house today, trying to reach an agreement to avoid hundreds of billions of dollars of tax increases and spending cuts. no statement is expected anytime soon. we go live now to washington to war correspondent, ben. >> all of the participants at this meeting left without a word. i don't think we will hear from them the rest of the day. there is a gre
to government and different sets of divisions and values and everything he did in that timeframe he kept trying to tethered to this big idea and when i wrote to the book of course we didn't know how things would end up on november 6, 2012, but i looked at how she developed the governing strategy, and they're really culminated in november, so this is the back story to what happened in this presidential campaign. >> david korn, showdown is the most recent book and we are here at the national press club. >>> robert discusses the role that geography has played in shaping the defense and talks about the role that it plays in the future. this is about ten minutes. >> good evening, welcome and thank you for joining us. my name is richard fontaine. i'm the president for the center of new american security. it's a pleasure to welcome you all here to celebrate the publication of robert kaplan's new book the reason geography what they tell us about the coming conflict in the battle against the state. i've heard it said before that you all very great author by reading his books not by buying them -- they w
, and it would each without utterly beknighted agricultural policies followed by until federal government with subsidizing -- that was a pleatly unnecessary aside -- completely unnecessary aside, i apologize for that. [laughter] originally, it was moved over vast distances in that quite tasty form of whiskey. we then moved to pigs which are, of course, corn with feet -- [laughter] b we have always preferred salted pork to salted beef, and then once this character, armor, figures out about refrigerated rail cars, you put the blocks of ice on top rather or than below the beef so that cold water drips down, you're able to have a single great stockyard in chicago which is moving that, those corn-fed beef in a cost efficient manner east. now, even though cities form for utterly prosaic reasons, miracles happen when smart people come to being around each other, when they learn from one another. think about athens 2500 years ago, or think about florence 600 years ago in the age of the me dissi where a city built on wool and banking, a city who connected brilliant people and learned from one anot
be slashed by 464 billion. 1,000 government programs face potential cuts, including three that directly impact air travel. john bentley has the story. >> reporter: long waits at airport security are nothing new. but if the u.s. government goes over the fiscal cliff, they could get even longer. according to one congressional analysis, the transportation security administration would lose more than $640 million in funding, roughly 7% of out budget. t.s.a. with would also lose over 7,000 security officers. safety would not be compromised. the passenger misery would increase. >> it could be a severe impact on the traveling public. instead of maybe one hour, you may be there two or three hours before. >> reporter: long lines would be the least of the problems. under the mandatory cuts of the fiscal cliff, the federal aviation administration would lose $800 million, and more than 2,000 air traffic controllers. fewer controllers mean fewer planes moving passengers and cargo. warns the air traffic controllers association. >> fb's pocketbook and livelihood is tied to the aviation system, so the
of people talking tonight. >>> i spy with my little eye. the government issues a warning to parents about who's tracking your kids, their personal information and what they're doing on all those mobile devices. >>> and how does he do it? >> he types is the house number and then the name appears up on the ipad. >> for the inside scoop on all things santa, we went straight to the experts. >> he showed me where the elves were. >>> good evening. after the his defiant and controversial response on friday to renewed calls for stronger gun laws in the wake of the connecticut school shooting, the head of the nra finally took questions today. wayne lapierre sat down with nbc's david gregory this morning to explain why he opposes an assault weapons ban and why he wants to address gun violence in schools with more guns. it is an emotional debate touching still-tender nerves over the deaths at sandy hook elementary among those who hold dear their constitutional right to own guns. we have two reports tonight beginning with white house correspondent peter alexander in our washington newsroom tonight. p
thing the next government needs to do is actually nothing. if it does nothing, if it doesn't reverse the reforms -- >> what's interesting is what berlusconi is campaigning on is austerity. he's running on an ant anti-austerity pro eu package. while it's untenable, it does have a certain amount of certainly backtracking the fiscal returns for them. >> exactly. this property tax, i think that's a cause for concern. if you were to repeal that, the fiscal position on would be unsustainable and he would have to raise taxes elsewhere to make up for that. that would be some messy negotiations with him on a european level. markets would be very concerned already heading into the elections. the more noise we hear, the higher italian borrowing costs would be and if italian borrowing costs rise, one of the very important parameters which led to this drop in debt to gdp over these 15 years heading into the crisis would not be fulfilled any more and italy's position would be unsustainable because of all that noise. >> it sounds like a catalyst should this fall into place in 2013. that still remai
geithner. it could delay the tax filings. the government relies on august revenue to come in and it usually comes flooding in during march and april. people need to pay their taxes, but they don't know which tax rules will apply. host: the other deadline is the debt limit. here at $16.4 trillion. guest: >> the treasury department can stop funding federal pensions and do some other maneuvers, essentially to buy them another six weeks of time. we all at this last year. closer they get to that is when financial markets will start going crazy. the debates we are having now about tax and spending will likely be the same debates we are having six weeks from now. host: there's the u.s. debt clock. you can also see how much that is for individuals and what protection is moving ahead. our guest is damian paletta of the wall street journal. the covers finances and congress and the white house. his work is available online. from the senate floor yesterday, these comments by the senate democratic leader harry reid. [video clip] >> the speakership all members of the house back to washington today. he sh
and they might be influenced by some violent popular culture. but how is the government going to identify the darkest thoughts in people's minds before they do anything? well, what government can do easily, however, is make it much harder for these people to have access to guns. a few hours before the newtown murders, a man entered a school in the province in china, obviously, mentally disturbed, he tried to kill as many children as he could. but all he had access to was a knife. the result, despite many injured, not one child died. the problems that for deuproduc newtown mas ker. you find my column on cnn.com/fareed. let's get started. >>> so, let's get right to it. a conversation about the real economic problems this country faces on my right and on their right glen hubbard the former chief economic adviser of cheney campaign. on my left, peter orzack, obama former budget director and sort of in the middle, the economist, economics editor and kristen editor of reuters digital. i promised we were going to get past the cliff. but i have to ask a few questions about it. you don't think it'
for anyone looking to become more familiar with how government works and the ins and outs of capitol hill. >> julie seger on c-span on verizon. c-span has been brought to you by your television provider as a public service. >> next, it is a global look at the economy with a speech by greek economist. among his many books, the economics professor recently minotaur" andobal natar we will show you as much as we can before the house gavels in at 2:00 p.m. eastern. [applause] >> ladies and gentlemen, france, -- friends, this is a singular honor to be a guest in this temple of civic life. thanks to all the good people for making this possible, to my publisher, the staff that are manning the barricades outside. my novel is debt crisis and the future of the world economy. i will be arguing that there is no such thing as a debt crisis. there is no debt crisis in the united states of america and europe, and there is no such thing as the debt crisis in my own country, which is nevertheless being consumed by debt. you know the joke about balloonist. the balloon has been blown off isrse, and at some p
" to postpone a government default. the government is on track to hit its borrowing limit on monday, he said with no prospect of congressional action to raise the limit. here now to help us unravel what's going on is todd zwillich. he's washington correspondent for "the takeaway" on public radio international. todd, welcome back. decode this for us. are the players privately as bleak about the prospects as their public statement suggests? >> not as bleak, margaret, but bleaker than they were even a week ago and that's not terribly encouraging. the president as you reported is flying back to washington last night and some members of congress are coming back earlier than others. there will be some meetings here, there have to be some meetings between the principals and the president. there are a couple of options in the last couple of days even though it seems like five days is terribly, terribly short. there shall bills floating out there to keep tax rates where they're at for people making $250,000 and below. that could slide around. there's a senate bill that floats around. there's the pres
both on the government side, the reform side, as well as currencies. so i think there's definitely a handful of risks. and you have to kind of -- the play for emerging markets is change. i think when you used to invest as efts, you have to look at the markets differently. i think you have to be more careful. >> all right. let's focus on india. i know you just got back from a long trip where you were evaluating the investment landscape in india. obviously we've seen a lot of foreign investors allocate capital into this market. we are looking at the rupee depreciating significantly over the last year. the company dealing with other problems including lack of infrastructure, some policy changes. what is your recent -- i guess your updated outlook on india going forward? >> well, the local market has justice done phenomenally in 2012. up 25%. but it didn't help u.s. dollar investors because the currency fell the same amount. so really everyone kind of broke even even though the market took off this year. i think india is still a market where you want to keep building positions graduall
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